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tv   Cavuto Coast to Coast  FOX Business  February 21, 2024 12:00pm-1:00pm EST

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stuart: that's very smart but i'm going to copy you. 18 oh 8 says varney. 1804 is the answer. brian: i dispute this. stuart: thomas jefferson changed of the rule after being stuck with ehrenberg as his vice president during his first term. he then ran with james madison on his ticket in 1804. brian: thanks for sticking around, see you another time. we will be watching you on "the big money show" at 1:00 pm eastern on this network. we will all be tuning into fox business at 4:00 this afternoon if not before then because that is when we get the nvidia results and that will really move the market, you got to watch. we are done for the day. coast-to-coast starts now.
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stuart: neil: very hot stock, the other, state attorney general pointing at donald trump, financial gun. lotito james is demanding but first the hurry up and wait investor for jetting. optimal capital on this optimal moment of nervous at the corner of wall and broad. it has to do with hurry up and wait and let minutes of the fed meeting from last month keeping rates where they were, but what's more pressing and market moving in the end? >> reporter: nvidia earnings because what has happened with the fed is you went from expecting six rate hikes to 3 rate hikes. i don't think anything will change from their data three weeks ago because the data was comprised ahead of the cpi and jobs report. i don't think there will be
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surprises but tech stocks are affected by interest rates. we went to expecting one hundred 50 basis points or 6 rate cuts to now only expecting 3 rate cuts and the market rally priced in the 6 rate cuts, that was giving us lofty valuations, then we have to decide if those are justifiable or if we've gotten over our skis with a i and that is why we are looking at nvidia earnings today. neil: you stressed it when this was just climbing the ranks, the poster child for ai. if you are keen on that, great technology and all the bells and whistles around it, you got to own nvidia but it has run up so far so fast that i would imagine even a strong report today might still be greeted with a selloff. what do you think? >> it's definitely possible. the bulk of the rally was the
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magnificent seven and now that the market has to reprice the potential of inflation moving higher and the fed having to stay higher longer, that's going to hit tech pretty hard, the question becomes do you sellout of the magnificent seven and sell out of everything else because you have concerns about growth and economy softening or layoffs or things like that, or do you see people coming out because the bubble is no longer justified by the fed and going into wider stocks and that the thing that we why wall watch. neil: might have been the same in the early days of amazon or apple, microsoft, you never know but you are confident enough that it's a long-term bet, that it is a sign or representation of the future so it's a volatile ride but over time an upward one.
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nvidia put all of that in superfast emotions so any slight gyration could be jarring but how do you see these type of investments whether any of the magnificent seven, they are for this great magnificent future so it's a bumpy ride but a long-term province. what do you say? >> i agree with everything you say about that. the only thing that will interrupt and make the bride -- make the ride bumpier is if we have credit concerns because of the tightening of the fed and powell has been careful to say they are lagging effects, you got 60% of americans living paycheck to paycheck, credit cards becoming increasingly onerous and it depends on whether you have something fall in commercial real estate but the next thing to watch is powell's testimony on capitol hill march 6th, to see if he says anything about inflation
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having an uptick, unexpected uptick and that is what we will be watching for and that goes heavily into pricing these stocks because if you think of how the markets work mechanically these markets are pricing in future expectations, that's of justification for these multiples. the future changes, if the future changes, there you go. that is so beautiful. lauren: 1 about the raid expectations. it used to be the market was saying they would cut rates as soon as march and that is out the window, then they say that might be out the window and there's another set, we might not see cuts at all this year because the economy, prices are holding up just fine, not as bad as we were on the inflation front were low enough to cut rates now. where are you on this? >> this is the most important discussion right now. what it is is does powell
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preemptively cut because of these lagging effects and he doesn't want to hit the threshold not knowing exactly where the threshold of musical chairs, when does somebody end up without a chair in the credit markets or does he wait until it breaks, having a preplanned pivot availability in front of him? i know that if i had that job i would preferred the certainty of finding the threshold against the uncertainty of not finding the threshold. he also has to be careful with election optic so that is challenging. he doesn't have an easy job but the nice thing is whatever he ends up doing the markets are very mechanical, pricing is very efficient particularly given that most of the market volume on a given day is a lecture conic volume and even your 13% interest rate on your first mortgage is as ludicrous as it was had some mechanical basis at the time. neil: you have a no good memory
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and embarrassing reminder that that was my first mortgage. always enjoy learning a lot. we will see what we hear out of nvidia. lotito james is not watching the market closely but that doesn't mean they aren't watching millions of dollars closely particularly what she has set on donald trump. she needs to cover the size of the punishment over his business holdings while he fights of this tooth and nail. the latest leticia james threat. she has some options for him. >> reporter: exactly right. the new york attorney general says she is ready and prepared to go after has assets which include his massive real estate portfolio like trump tower that you see behind me, she is ready
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to seize these buildings, watch here. >> if he does not have funds to pay off the judgment, we will seek judgment enforcement mechanisms in court and ask the judge to seize his assets. >> reporter: trump's legal team says they will appeal. to prevent the attorney general from seizing properties, only 30 days from that verdict to pay cash for the $350 million fine into an escrow account or post an appeal bond. the president spoke with laura ingraham and would not say if he would tell his prize properties to cover these costs. listen to trump's comments about the judgment and new york judge arthur and ron who ruled against him. >> we have a lot of cash but that doesn't mean he can take it.
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he looked at my cash and said we will take all of his cash. >> reporter: i talked to bond companies today who explained if the former president were to pursue getting an appeal bond to secure his appeal those companies would likely require he post as collateral leave their the total amount of the judgment or close to it. whether he offers cash to the court in escrow or pursues an appeal bond in the short-term, it appears he's up against, coupled $400 million to move forward without appeal. neil: is staggering to your point. bob q set, the hill editor-in-chief. we've been talking about this since the punishment came down, donald trump is in all the balls up including south carolina polls post this decision in new york, by 30 points. it is not earning him politically. what do you make of that?
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>> certainly isn't. we are shifting into the general election. nikki haley is not out yet but she's likely to lose her home state in south carolina so the attention really will focus on this. this ruling is kind of unprecedented. a former president, everything is unprecedented nowadays but this has gotten so personal between james and trump and that's why she's going to go after trump and she campaigned on that. this is something that is going to only intensify. neil: i'm not here to throw aspersions either way, she is still campaigning out an and i don't know how this makes estate attorney general look, saying that i'm going to nab one of his buildings if he doesn't put up the dough, i don't believe that is her role for the time being, sit back, see how this sorts out and if you are so much against donald
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trump why don't you stop yakking about this? >> reporter: it is a back and forth and i think that may be both sides go too far but experts have said this could cause some type of effect as far as business leaders and their relationship with new york, at the same time i do think this is such an unusual case, she's got the advantage right now, trump has a lot of cash as he mentioned last night, a lot of assets, can his cash cover the price tag as he appeals? that remains to be seen. doesn't seem like coming might have to sell something. neil: can always tap these campaign funds, might make people wince but it's perfectly legal. he tapped into $150 million last year, looks like he could
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be doing the same this year. nikki haley says people should be aware of that. it's going right out to his legal bills. the fact of the matter is he does not have the financial position president biden has. biden raised, you know better than i, $42 million last month. he now has one hundred 30 million in the bank. that does not include the money from this california trip, three yesterday, san francisco later today. he's going to have a big advantage over trump. what do you make of it? >> that significant. a lot of democrats, talking to a member last week saying the biden campaign has been lackluster. they are looking for a message, looking for more better talking points on the economy bond fund raising it has not been lackluster and that's an advantage. however as you remember hillary
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clinton had more money than donald trump. cash is not always king. stuart: julie: are right. trouble last night with laura ingraham in the town hall, mentioned what's going on right now regarding get his opponent, likely opponent if he is the nominee and president biden is the nominee, he doesn't think it is likely they will debate, not because he doesn't want to, he says i will debate right now but doesn't think it will happen, had me thinking we take these debates as a given but we've had times since 68-72 when richard nixon opted not to debate, smarting from his experience with jfk 1960 but it's not etched in stone we have debate, prior to 60, we didn't have them at all. i am wondering what would be the fall if there were no debates of this year at the presidential level? >> like a boxing match.
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the promoters have to decide what are the parameters of the debate with a fight and sometimes negotiations break down. hard to see the biden and trump campaign agreeing on something of the president shall commission exists but that got controversial four years ago. trump wants to debate biden. remains to be seen if biden will debate trump. won't go through the commission because trump has gone after the commission being too left-leaning. we could be going back to the future and could have no debates. adam: just amazing. we will see what happens. barbecue sack on all of that. president biden promises come friday those retaliatory sanctions on vladimir putin and particularly russia over the death of alexei navalny will be on, we just know more is coming.
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neil: there's a reason washington doesn't recommend anyone taking a trip to russia anytime soon. a ballerina with us/russian citizenship has been taken by authorities, she's under arrest, no reasons given. dual citizenship nature of this comes at the same time we learned that alexei navalny, a key critical vladimir putin, died in prison. still trying to get his body. all of this escalates as people ask what is going on. alex hogan has the latest. >> reporter: he's behind bars and suspicion of treason for reportedly donating about $50 to a ukrainian charity two years ago. if found guilty she could face
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20 years behind bars. this is 33-year-old send your carolina, a resident of los angeles, her family members are speaking out in fear for her and they say she came to the us for a work-study program initially living in maryland before moving to california where she works as a spa manager in beverly hills, coworkers say she went back to russia to visit her parents, sister and grandmother adding, quote, to know hers to love her, this heartbreaking news is so difficult to share but it must be done to seek justice. this footage right here shows carolina handcuffed, blindfolded, taken into custody. russia has revealed little about this case by the charity providing humanitarian assistance in question quickly condemned her arrest. it's not exactly clear how this donation was even noticed but the stage about explained the challenging road ahead.
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>> russia has not recognize dual citizenship, considers them to be russian citizens first and foremost so often a difficult time getting counselor assistance but we will pursue it. >> reporter: carolina is the latest in a series of americans jailed in russia like former marine paul whelen, held on suspected charges of espionage, the us ambassador visited today in prison saying he is in remarkably high spirits and good physical health despite how long he has been behind bars. it is almost been a year since he was arrested. >> reporter: just incredible. neil: dan hoffman, former cia officer, always enjoy having you. when you were in moscow in those days did it ever get like this where every other week
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there is an arrest or someone in prison dies and those who attend services or memorials, some of them are gathered up and arrested, a ballerina arrested, a brother of alexei navalny, what's going on? >> we saw this when russia invaded georgia in 2,008 but vladimir putin has taken his fight to democracy to an absolutely new level following his brutal invasion of ukraine and this is what we are seeing particularly now because russia's presidential elections on march 15th and i think timing matters to the kgb operative in the kremlin. he very much wants to be perceived among russian this as the defender of the besieged fortress in conflict with the west end he knows nothing brings out that conflict more than illegally detaining our
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citizens or conducting these extrajudicial attacks on civil rights activists or killing alexei navalny. it's a sad state of affairs. neil: one of your appearances on the show yesterday, i always learn something from you. one thing you said about this sort of cute way putin is trying to say no responsibility but not denying responsibility as if to send a message. could you explain that? >> he wants to have it both ways, the attempted assassination of the reddish military intelligence defector is a good example. vladimir putin used that band chemical nerve agent on him as well. vladimir putin's assassins could have hit him over the head with a hammer and killed him but they wanted to leave
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breadcrumbs leading back to the kremlin because a putin new that he needed to demonstrate to his own security people that if they get out of hand and betray him they will suffer the same consequences. secondarily in 2018, vladimir putin preparing for another big election into the government would kick out russian officials and he would kick out british officials from russia and that is what happened and flatter put net numbers went up. that is why he does it. past is prologue with him and he uses people as ponds on his kgb chessboard and that's the tragedy of modern day russia ruled by a ruthless russian intelligence officer who believes the greatest tragedy of the previous century was the collapse of the soviet union. lauren: 20 just amazing. all right, look at the corner of wall and broad, the dow is selling off.
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credit one bank. get cash back rewards, and live large. it. 20 we like to talk to bulls and bears to get everything in contact, the stock market cycles publisher, peter has been looking at signals a lot of people miss but these are worrisome signals you should be paying attention to. not necessarily driven by what nvidia does or doesn't report after the closing bell, good to have you back. what are you seeing lately that has got you concerned? >> good to be back with you. a lot of things of concern.
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one of the dreams of the technical analyst, very seldom fulfilled dream is that you find an indicator of some kind of pattern that pick solid tops and bottoms for you. that's never going to happen, there are so many factors, even as a technician the ruling factor in the market's psychology. you try to find ways to measure that psychology. for example, what's going on with the text field now is over extended. i came up with the idea of dividing the nasdaq one hundred which is basically a technology index by the dow jones industrial average which is obviously a conservative average. when you divide the ndx by the dow you get a ratio. if you follow that ratio
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historically, the ndx goes back to october 1985 so we have a good long history of almost 40 years, of the 2,000 weeks approximately that the ndx has existed, there have only been three weeks but close to the ratio bigger than 46%. now, it seems like i struck kind of gold here because if i tell you what the prior two weeks were just before february 9th, a week or two ago you will say all my god, really? so the first vocation was march 9, 2000, that was the first week that if you divided it by the dow it would be over 46%. at that time was 46. 2%. fast forward, years and years
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and years, when is the next time that 46% was reached? the week of october 19, 2021. that was the exact top of the ndx, march of 2,000 was not exact. it was 11 days off. in other words from the week of march 10th when that close occurred for over 46% you had to wait 10 days or 11 market days to see the final hive the ndx but we were well rewarded if that was what you were looking for because from that march high in the ndx, it was down 83. 5% in the next couple years so now -- adam: what do see happening now then? >> fast forward a couple years from 2021, that 2,020 one top of the ndx did lead to a
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decline of 38%, 39% into 9% into october 2022 but guess what happened, we didn't go down to the typical areas where the ratio exists. by the way, i want to say i would love to show the viewers a picture if they go to my youtube channel, a perfect picture of exactly what we are talking to, go to stock supermarket cycles, previewing, there's no charge for it and look at the chart. listen to this. on february 9, 2024, according to my calculations, 12 calendar days ago, the ratio to the dow jones industrial average, 46.5%, only the third time in 2,000 weeks of history where the ratio went over 46%. lauren: 1 means we are due for
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selloff of potentially that kind of magnetism, right? >> well, yes. it is not statistically significant. only two occasions. lauren: 1 are some of the other signals you look at that tell you let's pause in this party a little bit? >> dividend yield. nobody cares about dividend yield anymore. i don't want to dividend yields. i want to make capital gains. who cares about dividend? dividend yields have always been important. a past great market master i admire more than anyone, epson gould, he wrote a huge deal about analyzing the market at his big thing, when a dividend
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yield gets below 3% on the broad averages you are a danger territory. if you look at a chart and see if we resuscitated gould he would not believe it. we've been below 3% dividend yield for a quarter-century now. we are down in the ones and 2s. that's incredibly overvalued in terms of the stock market. everyone says people don't care about dividend yield anymore. when you get to 65, 70 years old and retire, you will care. it becomes a very important factor in the market and something the typical ratio of this mdx divided by dollars 14, 15, 20%. throughout history for the last 40 years.
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these 46% readings are just showing us there's incredible speculation in the tech indexes. if you compare them to the dow, you say it is incredible. neil: is a distinct -- real quick, i'm sorry. >> i want to point out quickly if you look at the more broadly based indexes, iw m is atf for the russell 2000 or the value line, they are still in a bear market, they recovered 50% of the decline from november of 20 one, they are 21, they are not a new all-time high by any means. lauren: 1 might be focusing too much on the chiefs and not the indians. always good seeing you even under these circumstances. the stock market cycles editor and publisher, we believe strongly like you should hear
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from a democrat, when you hear from a liberal, we apply the same to the markets. you should hear from a bear when you are hearing for mobile, decide for yourself who's making a compelling argument, it's your money, your life. and other thing we are following closely here might i don't know if peter weighs this when he talks about markets when going into a deep selloff but mortgage rates are back over 7 something again but that isn't necessarily the gloom and doom news you might think. katrina? >> reporter: thanks for having me. you want to find the best price for your home, you want to share the best tips to stage your home. ♪
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neil: we are dealing with mortgages, it's not a shock mortgage applications are down 10% and that is one of the things rattling a lot of investors and you would think a lot of homebuilders even though they are saying the environment is looking the best it has ever been but that's a split read on things. katrina campos, an encyclopedia with the stuff, is here to help you if you are looking to sell your home, there are little things you can do even in a high rate environment to make that home work. >> reporter: i met an apartment list on the upper eastside in
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new york city by douglas alleman, alisha alexander and staged by meredith bear homes, staging a home will indeed help you sell your property for a higher return. it's been proven time and again and i know you are thinking there aren't enough homes on the market so i do my need to stage my home? with interest rates anticipated to come down i think in may we will begin to see more inventory in the market and you want to set your home apart, and you could get listed for a higher number. the best tip is keep everything right, remove personal photos and this could get extremely emotional. when you go in for a listing presentation and you tell a seller to remove all their personal photos it is emotional but you want to make sure a buyer can picture themselves in the property, not you. neutral furniture and if budget is an issue, make sure to stage the living room and the primary bedroom, those are the two
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rooms that see the highest return on investment and if you can't afford to hire meredith bear to stage your home go to home goods, t.j. maxx and so many neat tips i have learned, the books you see on the shelves, making sure you wrap the books in white coverings, have throws, a pop color, greenery to warm up the space, a lot of would and lighting is definitely a key point, make sure to stage your home if you want to get the best price for it and emotionally it works because people want instant gratification in this market, they want to walk in, time is money, they want to walk into a property and feel emotionally connected to it and they want to be able to move right in. neil: you're going to redo an apartment, it's one thing doing for 5-bedroom house, what's the best advice on that?
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>> if budget is an issue it's important to choose certain rooms which see the highest return on investment. the living room is always one of them, the primary bedroom. people get emotionally attached to kids rooms too. staging a kids room and if you want to do things on a budget you can always find the same items at places like home goods, ross, those are places i like to venture into, target and pain is cheap, white paint definitely makes a huge difference, you want a clean canvas and then you can add artwork and so forth and things don't have to be outrageously expensive, just want people to picture themselves in the home and you wanted to feel like home because ultimately that is what people are looking for and as the market comes back up, they are going to want to find the perfect home within their budget. neil: said painted white. i remember gray was a big
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thing, accommodation in gray and beige, now it is just -- what's the real rule of thumb on this? as long as it is not loud? >> you want to appeal to the largest group of buyers so i tend -- a lot of stagers like white because it's a clean canvas. a lot of neutral colors also work but white gives you a beautiful canvas to be able to add the furniture and i'm not saying that to add color, but keep it to a minimal level so that you do appeal to a larger audience. neil: all good advice. i had a decorator like austin powers, talk a long time to realize you would tell me decades later. thank you, good job as always. in the meantime have you heard about this new technology elon musk revealed on the rolling patient has a chip in his brain it is now able to do things he could never do before, stuff
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>> welcome back to cavuto coast-to-coast. mayor eric adams has announced cancellation of additional budget cuts to city services. things look better-than-expected budget, the administration announcing they will no longer need the third round of cuts. important to note 10% cuts were named to agencies they were planning on additional 5% the will no longer be happening. the adams admin a station making this announcement pointing to savings in areas like migrant spending saying they cut 30% within that category. part of those cuts are thanks to new programs like their preloaded debit cards being handed out to migrants, that program catching a lot of flak from critics saying that it is going to be a lot more than the administration is saying it will cost, the biden ministrations has will save the city $7.2 million but critics say it doesn't add up. looking at the pilot program it will cover 500 people who will
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get $1000 a month, that will cost $6 million for one year. that's less than a $53 million set aside for the program. there are concerns how much of that money is going to go to the contractor, mobility capital finance, who got this contract in a noncompetitive no big deal. >> the mayor never explained this discrepancy between the pilot and the program that will serve enough people to cost $53 million a year and what are we trying to measure? the pie that is supposed to be repairing it against something else, seeing it working better into something else. >> reporter: the pilot program has not started yet but there are talks of expanding it. the doubt is that the debit cards will be used in a population with no legal identity and therefore no fraud control. there are concerns this will be
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exploited by greedy individuals and game goods the work among this population. the debit program will fix a problem that currently exist in exists in the city, $7.2 million in savings adams is referring to how much food is thrown out currently. 7. $2 million in waste. the food contract that was awarded in a no big deal and the debit card program also no big deal. back to you, neil. neil: no big deal. thank you for that. glad i know that now. i'm glad i know this store. one of the most intriguing of the week, maybe of this young year. musk revealing an early patient has the ability to control a computer mouse using just his mind. don't know more than that, we do know this could be the wave of the future. bruce miller is a behavioral neurologist. you've got to be very smart to be a behavioral neurologist and how big a deal is this? do some people worry about it? creating frankensteins here? what do you make of it?
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>> i think the work is extraordinarily exciting. it brings the cutting edge engineering to neuroscience that we haven't had before. the idea that we can have our robot, because the threads are too to small, neurosurgery playing singh electrodes in the brain and this current project as best as we can tell is focused on helping people move with their mind, who are paralyzed. the science is strong. it has been done for a number of years but now this engineering application, changing quality-of-life for people with lou gehrig's disease, als, different types of paralysis, it is smart, spectacular and i think it is
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going to eventually change the lives of many people. neil: that encourages me but there is the flipside where some people worry be careful what you wish for, the same technology in the hands of someone with more sinister motives can do just the opposite. what is the worry there? >> when you have technology that controls the way people think and move there are dangers. one of the applications moving forward with this technology is changing moods in people with depression, helping to short out psychosis and delusions. massive promise but we need to carefully monitor this and make sure it's done in the right way for people and not abused.
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neil: they say we only use a fraction of our brain and its vast potential. with these type of chips be able to allow us to take advantage of that? 's much more of our brain than we currently do as an species? >> what we have learned with science is we have multiple circuits in the brain, when we turn one circuit on we tend to turn other circuits off. i think this could expand the function of a circuit perhaps involved with memory but, we know that the brain simultaneously when this happens will be turning other circuits off. it is some gain but also some loss. we are a little bit away from putting this into healthy people to enhance cognition. lauren: 1 love to have you
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